The Bureau of Collections (BoC) said on Tuesday that it already exceeded its 2022 target as early as last week, collecting ₱745.50 billion and reaching the agency’s highest annual collection to date.
The amount, which was hit as early as Nov 11, was already 3.27 percent or P23.98 billion more than this year’s target of P721. 5 billion.
“Based on a preliminary report, all 17 collection districts of the bureau reached their respective collection targets, garnering a surplus of 16.8 percent or ₱103.29 billion as of October 31,” the BOC said in a statement.
The collected revenue this year also surpassed pre-pandemic tax take, which was at ₱630.31 billion back in 2019.
Last year, the BOC collection stood at P645.765 billion while its 2020 collection amounted to ₱539.660.
“Commissioner Yogi Filemon Ruiz led the BOC in achieving the remarkable feat through the stringent implementation of his priority programs to curb smuggling and corruption, optimize revenue collection, and digitalize and enhance customs operations,” the BOC added.
The attached agency of the Department of Finance said its priority programs were anchored on the eight-point socioeconomic agenda of President Ferdinand Marcos Jr.
One of the streamlining measures being implemented by the BOC this year is the integration of the logistics and supply chain management platforms of the bureau and the Philippine Economic Zone Authority (Peza).